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Infineon sees quarterly revenue hit from Texas outage

BERLIN, March 19 (Reuters) - German chipmaker Infineon said on Friday it expected a quarterly hit to revenues in the high double-digit million euro range from a production outage at its U.S. plant in Austin, Texas caused by last month’s snowstorm.

In an update, Infineon said it was continuing to ramp production and expected to reach pre-shutdown levels of production by June. Given tight market conditions, it would not be possible to recover lost production.

“The major impact on Infineon’s revenue related to this incident is expected in the third quarter of its 2021 fiscal year, in the range of a high double-digit-million euro amount,” Infineon said.

Given the general business situation and the strong global demand for microelectronics, Infineon anticipates no negative impact on overall revenue expectation for the full fiscal year to Sept. 30. Infineon will provide an update on May 4. (Reporting by Douglas Busvine; editing by Tom Sims)

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